When the transfer? What hours are the banks booking transfers

Very often, waiting for the transfer, we enter our bank account, persistently checking whether it has finally arrived on our account. We log into online banking several times a day, getting nervous and looking for the expected money. http://coast2coastautooc.com for more.

The situation gets even more complicated if other deadlines chase us and we need to send money further. Questions then arise: when will I receive my transfer? If I make a transfer, will it reach the recipient today? Answering these questions, we must realize what accounting is and how it looks at current banks in the country?

How much transfer is going on?

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How often in such a case the answer is: it depends … In this case it depends on the type of transfer that we make and the dates of its execution. Remember that transfers made on holidays, non-working days, weekends are transfers awaiting the next posting. This means that most likely the waiting time will be extended to a few or several days.

Banks do not keep their accounts 7 days a week, 24 hours a day. The so-called sessions during which all outgoing transfers reach their recipient. Therefore, if we want the transfer to arrive as soon as possible, we suggest you make the transfer in the morning on the selected business day. It is also worth considering the type of transfer being performed, as it can have a real impact on the expected time.

We currently have internal transfers – carried out within one bank, as well as external – within several banks.

  • internal – this type of transfer is delivered not only on the same day, but often within an hour. It is especially important when we make a quick transfer, which is necessary for posting within a few minutes
  • external – here the matter gets complicated, because the external transfer can go both a few hours and … a few days. The intermediary of such transfers is the so-called National Clearing House. How quickly the transfer will be posted to the recipient depends on the time of its execution. Each bank conducts sessions at different times (usually 3 times a day), only on public days. So the transfer made in the morning session (i.e. from 9 to 11) will be booked faster than the one made in the evening session (i.e. 16-17: 30)

Banks – when will the transfer take place?

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To make it easier to know the accounting hours, let’s divide them into: outgoing (i.e. performed by us) and incoming sessions (i.e. booked for us, outgoing from someone else). The first hour given is the morning session, the second is the afternoon session, and the third is the evening session. It is worth noting that the hours of incoming sessions change in banks from time to time, therefore the information provided may change.

In the case of large and important transfers, the so-called SORBNET service can be purchased, enabling real-time money transfers. Such a service costs relatively much, so it is better to use it in urgent and urgent situations. Express transfers cost between 1 and 15 USD, depending on the banks.